Place broth in saucepan; bring to a simmer. Turn heat to low and keep broth at a low simmer.

Heat butter and oil in a heavy-bottom 4-quart Dutch oven over medium heat. Add onion and cook for 1-2 minutes or until it begins to soften, being careful not to brown it.

Add rice and stir for 1 minute, making sure all the grains are well-coated. Add wine and stir until wine is completely absorbed.

Add beets and ½ cup of the hot broth. When broth is almost completely absorbed, add another ½ cup of hot broth. Stir for 30 seconds. Continue to cook on medium to medium high heat, adding broth in ½ cups, stirring for 30 seconds and cooking until almost all the broth is absorbed.

After approximately 18 minutes, when the rice is tender but still a little firm and all broth has been added and absorbed, remove from heat and stir in cream, parmesan and chopped parsley. Stir vigorously to combine.

Presentation: Spoon into 4 shallow bowls and garnish each bowl with a sprig of fresh Italian (flat-leaf) parsley. Serve immediately.